CTS vs NC: Correlation
CTS Corporation (CTS) and NACCO Industries, Inc. (NC) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTS and NC?
On 3 years of weekly data the CTS/NC correlation comes out at 0.44, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.44 over 3. The 5-year figure is 0.30, and annualized covariance runs at 523.7 %².
Out of 26 assets tracked against CTS, NC lands near the bottom at #23. Their recent paths diverged sharply: over the last 12 months CTS outperformed by 23.6 percentage points (+35.8% for CTS against +12.2% for NC).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CTS vs NC: side by side
| CTS (CTS Corporation) | NC (NACCO Industries, Inc.) | |
|---|---|---|
| 1-year return | +35.8% | +12.2% |
| 5-year return | +63.4% | +96.1% |
| Volatility (ann.) | 33.0% | 36.3% |
| Beta vs S&P 500 | 1.40 | 0.46 |
| Max drawdown (3Y) | -40.6% | -31.2% |
| Market cap | $1.6B | $0.3B |
| P/E (trailing) | 23.8 | 18.7 |
| Dividend yield | 0.28% | 2.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTS | NC |
|---|---|---|
| 2022 | +7.8% | +6.7% |
| 2023 | +11.4% | -1.5% |
| 2024 | +20.9% | -15.9% |
| 2025 | -18.4% | +68.8% |
| 2026 | +34.7% | -11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTS and NC good diversifiers for each other?
Reasonably. At 0.44, CTS and NC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CTS and NC?
As of 2026-08-27, the correlation of weekly returns between CTS and NC is 0.44 over 3 years, 0.34 over 1 year and 0.30 over 5 years.
Is NC a good diversifier for CTS?
Reasonably. At 0.44, CTS and NC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cts-vs-nc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cts-vs-nc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTS correlations · NC correlations
